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Kyoto Kimono Yuzen fiscal Q4 profit falls YOY

Kyoto Kimono Yuzen Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥2.35 per share, a decline of 91.6% from ¥27.91 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥28.1 million, a decline of 93.1% from ¥408.8 million in the year-earlier period.

The normalized profit margin dropped to 1.0% from 9.8% in the year-earlier period.

Total revenue fell 29.8% on an annual basis to ¥2.94 billion from ¥4.19 billion, and total operating expenses fell 17.8% year over year to ¥2.92 billion from ¥3.55 billion.

Reported net income totaled a loss of ¥20.0 million, or a loss of ¥1.67 per share, compared to income of ¥364.0 million, or ¥24.86 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥36.73 per share, a decrease of 59.1% from ¥89.84 per share in the prior year.

Normalized net income was ¥448.8 million, a decrease of 65.9% from ¥1.32 billion in the prior year.

Full-year total revenue decreased 16.3% year over year to ¥13.79 billion from ¥16.47 billion, and total operating expenses declined 8.9% on an annual basis to ¥13.15 billion from ¥14.44 billion.

The company said reported net income declined 66.6% year over year to ¥414.0 million, or ¥33.89 per share, in the full year, from ¥1.24 billion, or ¥84.60 per share.

As of June 25, US$1 was equivalent to ¥123.71.